In the process of execution, after the people's court accepts some cases of creditors applying for bankruptcy, sometimes the debtor may reach a settlement agreement with the creditor group, and after the people's court recognizes and takes effect, the bankruptcy procedure is suspended. In this case, there are two consequences. First, the bankruptcy declaration was blocked. Accordingly, it is impossible for the liquidation group to be established and take over the property, and the debtor has the right to continue to possess, use and dispose of the property. Second, the enterprise property continues to be protected by the bankruptcy law, and individual creditors are not allowed to recover debts from the enterprise, and civil litigation, civil enforcement procedures and related litigation preservation measures are not allowed to ask the enterprise to pay the property.
legal ground
Enterprise Bankruptcy Law of the People's Republic of China
Article 121 The administrator shall, within 10 days from the date of termination of bankruptcy proceedings, cancel the registration with the original registration authority of the bankrupt on the basis of the ruling of the people's court to terminate bankruptcy proceedings.